MATTER OF CAWLEY v. SCM CORP.


72 N.Y.2d 465 (1988)

In the Matter of William V. Cawley, Appellant, et al., Petitioner, v. SCM Corporation, Respondent.

Court of Appeals of the State of New York.

Decided October 27, 1988.


Attorney(s) appearing for the Case

Michael J. Malone, Battle Fowler and Kathy A. Ahearn for appellant.

Nancy E. Barton for respondent.

Chief Judge WACHTLER and Judges KAYE, ALEXANDER, TITONE and HANCOCK, JR., concur with Judge SIMONS; Judge BELLACOSA dissents and votes to affirm in a separate opinion.


SIMONS, J.

The issues presented in this stock appraisal proceeding under Business Corporation Law § 623 (h) (4) are: (1) whether, in assessing the fair value of SCM Corporation stock, the courts below abused their discretion by disregarding the tax deduction that SCM became entitled to upon the consummation of its merger with HSCM Merger Company, Inc. and, if so, (2) whether the value of this postmerger...

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